If you’re thinking about buying a home, use our mortgage calculator to figure out how much your monthly payments could be: cnb.cx/3QsLT4h
@CNBCMakeIt Because I chose to rent an RSO unit, I am only paying $600/month for my half of rent. Includes utilities. Lived in LA 20 years. No homeowner pays that little for their housing here in Los Angeles. Renting is so much better than owning. Plenty of other ways to invest.
@CNBCMakeIt This is misleading. You have other expenses to account for.
@CNBCMakeIt where is the constant property tax increase slider?
@CNBCMakeIt Lol @ making the default $200k at 3.5%. This isn’t 2015.
@CNBCMakeIt Worthless tool until you add a property tax estimator based on zip code and purchase price.
@CNBCMakeIt This is the worst 'Can you afford it' calc ever. Normal monthly mortgage payment is only 40%-60% of my total monthly housing expenses after taxes!!, HOA, etc. Very misleading.
@CNBCMakeIt Realistically a $200k loan at that rate at 30 years would have a monthly payment around 1500
@CNBCMakeIt This doesn’t include mortgage insurance premiums. Which if you put down less than 20%, you will most likely have to pay. Better calculator on Zillow